Philippines: Growth in remittances picks up in August
Remittances totaled USD 2.9 billion in August, representing a 5.1% year-on-year expansion. This follows July’s 2.5% year-on-year increase. On a cumulative 12-month basis up to August, remittances summed USD 31.0 billion, above the USD 30.9 billion registered in July. August’s 12-month rolling total signaled a 4.7% increase from a year earlier (July: +3.9% year-on-year).